EUR/JPY Price Analysis: Interim support emerges at 129.13


  • EUR/JPY starts the week on a soft note, drops to 129.70.
  • There is an interim support at the 50-day SMA.

EUR/JPY manages to reverse an initial drop to the 129.70 region, although it keeps the bearish note so far on Monday.

The continuation of the current consolidative theme looks the most likely scenario in the very near-term at least. However, further gains in the Japanese currency carries the potential to force the cross to creep lower and face the next minor support at the 50-day SMA, today at 129.13.

The resumption of the upside, on the other hand, is expected to meet the next hurdle at the 2021 high near 130.70 (April 7) ahead of the 131.00 mark.

While above the 5-month support line near 128.70, extra gains remain on the table, with the longer term target at the 2018 high at 131.98 (July 17).

In the meantime, while above the 200-day SMA at 125.88 the broader outlook for the cross should remain constructive.

EUR/JPY daily chart

EUR/JPY

Overview
Today last price 130.09
Today Daily Change 63
Today Daily Change % -0.21
Today daily open 130.37
 
Trends
Daily SMA20 129.84
Daily SMA50 129.1
Daily SMA100 127.69
Daily SMA200 125.92
 
Levels
Previous Daily High 130.54
Previous Daily Low 129.98
Previous Weekly High 130.61
Previous Weekly Low 129.8
Previous Monthly High 130.67
Previous Monthly Low 128.18
Daily Fibonacci 38.2% 130.33
Daily Fibonacci 61.8% 130.2
Daily Pivot Point S1 130.05
Daily Pivot Point S2 129.73
Daily Pivot Point S3 129.49
Daily Pivot Point R1 130.62
Daily Pivot Point R2 130.86
Daily Pivot Point R3 131.18

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Are you new to trading or have been trading for a while and you feel stuck?

Try with us!
Become Premium!
   

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD skyrockets to 1.2150 on poor US jobs figures

EUR/USD has hit a new multi-month peak above 1.2150 after the US reported an increase of only 266,000 jobs in April against nearly one million expected. The dollar is under immense pressure. 

EUR/USD News

GBP/USD soars toward 1.40 after disappointing Nonfarm Payrolls

GBP/USD has been extending its gains after the US Nonfarm Payrolls badly disappointed with an increase of only 266,000 jobs in April, nearing 1.40. Earlier, sterling benefited from the UK Conservative Party's gains in local elections. 

GBP/USD News

XAU/USD soars above $1,835 after weak Nonfarm Payrolls

Gold has leaped above $1,835 after the US reported an increase of only 266K jobs in April, far below expectations. Lower US yields support the precious metal.

Gold News

Judge reaffirms order SEC must produce documents on Bitcoin, Ether and XRP in Ripple case

Ripple's victory granted the firm access to the SEC's documents on the three leading cryptocurrencies. The regulatory agency recently denied the possession of these documents.

More Dogecoin News

S&P 500 and Nasdaq: Can the Fed pump anymore after weak jobs report

Well, that was an interesting jobs report. Not too many people were forecasting that one. Just in case you missed it NFP were forecast to come in around the 1 million jobs gained but instead the US only added 266k.

Read more

Forex MAJORS

Cryptocurrencies

Signatures